Income tax, state; dedicates portion of car tax to localities. (HB306)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Car tax; dedicates a portion of income tax to localities. Repeals the car tax reimbursement program and replaces it by dedicating 17.5% of the state individual income tax collections to localities. The bill is effective January 1, 2009, but only if a constitutional amendment is ratified in November, 2008, exempting from taxation all motor vehicles used for nonbusiness purposes. Amends § 30-133 (“Duties and powers generally.”), § 46.2-623 (“Statements in application.”), § 58.1-320 (“Imposition of tax.”), § 58.1-3506 (“Other classifications of tangible personal property for taxation.”), § 58.1-3506.1 (“Other classification for taxation of certain tangible personal property owned by certain elderly and handicapped persons.”), § 58.1-3912 (“Treasurers to mail certain bills to taxpayers; penalties; electronic transmission.”), of the Code of Virginia. View Full Text »
